NEOS Investment Management LLC Has $5.09 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NEOS Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 25.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,128 shares of the information technology service provider’s stock after buying an additional 13,279 shares during the period. NEOS Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $5,085,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Spire Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 0.3 %

Shares of NASDAQ:CTSH opened at $77.58 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The business’s 50-day moving average is $82.72 and its 200-day moving average is $79.47. The company has a market capitalization of $38.37 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.60%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Cognizant Technology Solutions declared that its board has initiated a share buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

CTSH has been the topic of a number of research analyst reports. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Morgan Stanley lowered their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.56.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.